Red metal enters JV with MMG

JUNIOR explorer Red Metal has inked a joint venture (JV) agreement with Chinese-backed MMG to advance its prospective Mallapunyah zinc project in the McArthur Basin region of the NT.

Under the agreement MMG will wrap up land access negotiations for Red Metal’s tenements and have the right to earn-in a 70 per cent stake by completing a Bankable Feasibility Study within seven years.

Exploration at the project will target zinc-lead-silver deposits similar to the giant McArthur River and Century mines.